New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1887-09-15
NORTHERN PACIFIO COMPROMISE.
WHO WILL BE ELECTED DIRECTORS TO-DAY


MR.. WILLARD NOT TO BE PREsIDENT-No CHANGE
IN THE PRACTICAL MANAGEMENT.
The annual meeting OF the Northern Pacific Railroad
Company will be held at the general offices in this
CITY to-day The result OF the election may be unsat-
isfactory TO those who expected bitter contest be-
tween the present management aud the Oregon ana
Transcontinental Company opposition. compro-
mise ticket WIS agreed upon yesterday afternoon,
after many animated conferences The new board
will be constituted follows: August Belmont,
Frederick Billings, John A. Brookman, Benjamin L.
Cheney, Robert Harris, Brayton Ives, Thomas +.
Cakes, Charles B. Wright Henry Willard, Charles L.
Colby Colgate Hoyt John Is. Trevor and Edwin H..
Abbott The five last named represent tue Oregon
Trauscontnental Opposition and take the places
OF James C. Fargo. Johnston Livingston, John H.
Hail. J. Lewis Stackpolo and John U. Bullitt VI the
new members Mossrs. Colby ana Abbott are the chief
executive officers OF the Wisconsin Central Railroad
while Messrs Trevor and Hoyt may be considered ps
representatives OF Union Pacific well as Oregon and
Transcontnental interests The position OF Henry
Willard Is we'll understood to be that OF mediator be-
tween the opposing factions recount OF his recent
negotiation OF several millions OF Oregon and Trans
continental assets.
Ii is Understood that Mr. Willard has no aspirations
TO the presidency OF the Northern Pacific or even the
Oregon which be formerly occupied
and that in TACT he finally consented to take seat In
the Northern Pacific board only after he had secured
a modification OF his instructions IRON the Herman
syndicate which he represents Ii Is pain, however,
Mr.. Willard viii again largely c0ntfol the policy
of the Oregon companies and only TO q less extent
that OF the Northern Pacific. lie may not hold his
seat IN the board long whlo, for his duties TO bis
foreign friends may not permit it, but 1t Is expected
that his DO wer in the management will not be less
this account The recent negotiation OF oregon and
ntal assets the beginning OF financial
arrangements which may cOncern all the companies.
There was surprise expressed IN w all street
that Ell sh Smith, president OF the Oregon ana Trans
continental Company Charles Francis Ada,ns or
some oiher prominent otDcor OF the Union Paoino
Railway. net placed on the compromise ticket.
IL explained however that the relations oil these
com anes with the Northern Pacno were such that
their officers could not properly DO members OF the
board. The unsettled claim OF tue oregon ana
1ranscontin-ntal Company forbade its president to
in the directory where he would DC called
upon TO vote his own claim, and the open qucs.
ti1ns about q division OF territory since the lease VI
the Orcgon Railway and Navigation to the Union
Pacific restrained Presld mt Adams ana other oucers
OF that company from accepting direct representa-
ton. Both sides in the contest were extremely con-
aleu and the vote TO be to-day will undoubtedly
be the largest in the history OF the company. The
present management, which has been led by 4. Is.
Wright of Philadelphia processes To control over
400 600 shares of stock, and the Oregon and Trans
continental opposition confident that II will vote on
$50. 600 shares. There will be only the one ticket
presented to the stockholders, but there will be no
little curiosity 20 know how nearly tie claims OF each
side will be realized. the meeting will lack, how
ever the excitement of contest in spite vi the un.
ally heavy vote.
No change in the practical management is likely to
be made at present. Robert Harris will be re elected
presdet: and Thomas +. Cakes neutrality-suspicious.
general manager. IL ba- bccn hlnteu lOr lOnB
time that perfect harmony did not exist between tho
chiei executive officers, but both will probably retain
their places for few months at least. 1t 10 not
known certainly what changes Will then be made, but
IL thought In some quarters to be significant that
M Cakes he'd his present position under tue former
Willard managen ent u has been RI morod lately that
he would be- placed at the head OF the company at
tins meeting but there Ia excellent authority Tor the
statement that immediate change Is contemplated.
The ticket tor directors has been completed with
great duicuty and only the eve OF election. IL is
rumored that one member of thu present board in
sisted on a reelection the ground that oppos ton
to him might be considered a merely personal matter
and that another offered u considerable amount OF
proxies Mr. Willard the condition that he might
retain bis place Tho truth OF these reports not
established but the fight tor control has been ener-
getic. In fact the recent financial difficulties OF the
Oregon and Transcontinehtal Company we're dne
chiefly large purchases OF Northern Pacific stocks
in the hope OF gaining supremacy and there Is reason
to believe that its embarrassment alone prevented its
complete After the iorced sale OF assets TO
the syndicate represented by Mr. Willard, the Oregon
and Transcontinental ComI any was driven to place
the voting power of its Northern Pacific stocks In Mr.
Wizards hands. The result was the comp roniss
reached yesterday.